Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Firm's Demand for a Resource Use the following data to answer the question below. Assume a perfectly competitive product market
Units of Labor Units of Output0 01 72 133 184 225 25
a. Calculate the marginal revenue product for each additional unit of labor if output sells for $3 per unitb. Draw the demand curve for labor based on the above data and the $3-per-unit product pricec. If the wage rate is $15 per hour, how much labor will be hired?d. Using your answer to part ©, compare the firm's total revenue to the total amount paid for labor. Who get the difference?e. What would happen to your answers to parts (b) and (c) if the price of output increased to $5 per unit, other things constant?
A country produces manufactured goods, whose industry is characterized by increasing returns to scale, monopolistic competition, and firms that differentiate their products. Firms are symmetric all firms have identical costs functions and demand f..
One unit of object is going to be sold via auction. There are two bidders, A and B. Their willingness to pay are known to be either of 10,20,30,40,50 and bids are also restricted to those values.
Starting with the estimated demand function for Chevrolet: Qc = 100,000 - 100Pc + 2000N + 50I + 30Pf - 1000Pg +3A + 40,000Pi. Assume the average value of the independent variables changes to N= 225 million, I= 12,000, Pf= 10,000, Pg= 100 cents, A=..
a) Just to provide the 2.7 billion "severely" poor population with $1 more output per day b) To raise the incomes of the world's "severely poor" population (income less than $2 per day) to the official threshold of U.S. poverty (roughly $5,000 per..
A. Calculate the opportunity cost of an increase in the numberof hours spent studying in order to earn a 3.0 grade poingaverage(GPA) rather than a 2.0 GPA. B. Is the opportunity cost the same for a move from a 0.0 to a1.0 GPA
A geometrically increasing series of 20 end of year payments is deposited to fund an account. The first payment is $20,000, the geometric factor is 4%. The account is used for retirement purposes and will produce 30 consecutive
Calculate the marginal propensity to consume after the change in the rate of savings for the following scenerio: 20 years ago the average savings rate was 20 percent ofdisposable income
Assume an economy with steady-state unemployment. The separationrate is 2.5% per month and the finding rate is 47.5% per month. Theadult population is 120 million workers and the labor-forceparticipation is 2/3. How many workers lose their jobs ea..
Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150+28Q-5Q^2 and C(Q)=100 + 8Q(Note: MB(Q)=28-10Q and MC(Q)=8. What level of Q maximizes net benefits
consider a representative consumer with preferences over consumption and leisure given by U(C,L)=C^2/3 L^1/3 assume that she has a total of h=18 hours a day which she can use for leisure or trade in the market for a wage rate w.
consider an industry with a dominant firm and several fringe firms. assumes that this is a free-entry industry. a dominant firm given by C(q)=800+20q+q^2. The fringe firms all have the same variable cost as the dominant firm, but doubled fixed cos..
The market supply and demand function for good X are shown below: X^s=S(P,W)=30P-W X^d=D(P,Y) =6Y/P Where p=price, x=quantity, W= labor cost, y= consumer total income. Find elasticity n(P*,Y) and evaluate it numerically at the equilibrium values a..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd